Moody’s downgrades Care UK’s ratings

Ratings service Moody’s has downgraded both Care UK’s corporate family rating and probability of default rating from B3 to to Caa1 and B3- PD to Caa1-PD respectively. It has also downgraded the rating of its Senior Secured Floating Rate Notes from B3 to Caa1 and its Senior Subordinated Second Lien Notes to from Caa2 to Caa3. Moody’s, however, said the outlook for the care home operator was stable.